New Oriental Education’s Live-Streaming Platform Introduces Two Major Logistics Partners
Oriental Selection, a live-streaming e-commerce platform owned by New Oriental Education, announced on August 31 that it had reached a close partnership with SF Express and JD Logistics, and planned to establish 20 self-operated product warehouses in Beijing, Guangzhou, Hangzhou, Zhengzhou and Chengdu to provide nationwide logistics service guarantees for self-operated products.
In terms of SF Express, Oriental Selection’s self-owned products are delivered from normal temperature warehouses, which are now dotted throughout the country. In order to ensure timeliness and preservation of their products, the logistics coverage of frozen products is Northeast China and North China.
In terms of JD Logistics, its self-operated products can be delivered on the same day or the next day, and the cross-province orders are promised to be delivered within 72 hours.
Founded at the end of 2021, Oriental Selection burst onto the scene this year by bringing in over 2 billion yuan ($290 million) in the last three months. Michael Yu, founder of New Oriental Education, once wrote on his public Wechat account: “Happiness and pressure coexist. We were caught off guard by the sudden prosperity of the platform such as the supply chain. To establish high-quality supply chain resources, more professionals are needed.”
In an interview with Yicai, Sun Dongxu, CEO of Oriental Selection, said that in the future, Oriental Selection will focus on investing in supply chain construction and the company’s in-house product cultivation. During the most recent earnings call, Sun added that when it first became popular, Oriental Selection only had one main account, but now it has made four accounts at the same time to focus on different specific fields.
In the future, Oriental Selection will play on the advantages of New Oriental as a listed company while making use of its funds to better the layout of its industrial chain. The company is also aiming to put more investment into the Chinese real economy and manufacturing industry in the field of agriculture.